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What we’re talking about: provisions to account for the nuclear phase-out

The costs associated with phasing out nuclear energy will be borne by the parties responsible, namely the utilities operating nuclear power plants in Germany. In this context, EnBW, E.ON, RWE, Vattenfall and Stadtwerke München had to undergo a 'stress test' that started in summer this year and lasted for several months. The test results were included in an 'Expert response evaluating the future legal requirements with regard to the dismantling of nuclear power plants and the disposal of nuclear waste' and published on 10 October 2015.

For example, the stress test analysed whether the provisions declared by the companies were complete, whether they complied with international accounting standards, and whether they were suitable to cover the costs of the nuclear phase-out. The result was positive, meaning that the companies concerned met all the legal requirements for making provisions to account for the nuclear phase out.

What is so ‘stressful’ about the test?

So why is the expert opinion called a 'stress test'? To answer this question, we have to go back in time. In 2011, the Gesellschaft für deutsche Sprache, GfdS, (German Language Society), chose the word ‘stress test’ as Word of the Year. According to the GfdS, the term was first coined in the field of medicine, where it referred to testing how the body responds to physical stress. This concept can be transferred to other areas as well. It then refers to, for example, the ability of banks, buildings or even relationships to withstand a crisis situation. As far as nuclear energy is concerned, the term stress test refers to assessing whether a nuclear plant can cover the costs associated with the dismantling of nuclear power plants and the disposal of nuclear waste. According to the GfdS, the term stress test has now become part of the everyday language.